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Cyprus 16, Us 14, Russia 11, Adobe 7, California 7, Lifelock 6, Eu 5, Gethelp 4, Harrison Ford 4, Welker 4, Gazprom 4, Obama 4, Fda 3, U.s. 3, Lunesta 3, Moscow 3, Cuomo 3, Andrew Napolitano 3, Brown 3, Nicole 3,
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  FOX Business    Varney Company    News/Business.  
   Wall Street news. New.  

    March 20, 2013
    9:20 - 10:59am EDT  

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>> guts. >> onions. connell: thank you, bill raptor. imus: and here is warner with a minute sports. warner: who is lying here? we heard bob kraft refer to tom brady's disappointment losing wes welker, he says i don't answer to tom brady. and he also said we wanted to re-sign welker. >> everybody in the organization wanted him back and anyone who doesn't think we're serious, doesn't get it. warner: not so fast, accord to go welker's agent when they offered welker two year, 10 million dollar deal they told him take it or leave it and when welker offered them a chance to match the broncos deal two years 12 million kraft said no and had already contacted danny amdello of the rams and so the question is, who is lying. imus: what's coming up in the briefing, bernie?
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>> we have michael moore, jimmy kimmel, all kinds of funny stuff. imus: right after that we'll do the blonds on blonds. ♪ doesn't get anymore out law country than this guy, i-fave, i-friend jamey johnson. ♪ ♪ ♪
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♪ ♪ imus in the morning ♪ >> so they tried to shake down a tiny island country of cyprus and cyprus said no. i'm charles payne, stuart is going to be back tomorrow. but today, here is the big story. here is a country that was willing to sacrifice its people to save its banks. well, the people protested and lawmakers unanimously voted no, no taxes on private accounts. so now what? welcome to the rescue.
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the country has 20 billion in cypriot banks and wants to top the natural gas reserves. the finance energy advisors immediately hopped on a plane to russia. move over, harrison ford, vladimir putin might be the hero of this story. "varney & company" is about to begin. and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef bere opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find se good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade.
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>> it's wednesday, march 20th, the first day of spring. well, the season may change, but the same winds are blowing in washington. the white house continues to insist on maximum pain from sequester cuts. we're seeing more cuts used for political reasons instead of cutting back on things we don't need. speaking of that, more nonsense from senator harry reid indirectly linking the blast that killed seven marines in nevada to the automatic defense cuts. listen. >> it's just not appropriate, mr. president, that our military can't train and do the
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maintenance necessary. these men and women were training there at hawthorne, with the sequester it's going to cut the stuff back and i just, i just hope everyone understands sacrifices, sacrifices made by our military. they are significant. charles: and that's shameful. harrison ford of all people also sounding the alarm. the actor, oh, and pilot says, quote, accidents are going to happen when the f.a.a. closing air traffic controo towers. we'll play the sound from harrison ford and we also have several more examples of maximum pain cuts at the top of the hour. meanwhile, president obama landing in israel today, his first trip there as president. he's going to meet with israeli leadners jeruselem and trying to make progress in restarting the middle east peace process. no matter what happens, president obama seems to be getting happy to be getting away, listen to him on the tarmac. >> and--
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♪ >> cyprus rejected terms of the eu bailout and no taxes on bank accounts and now hoping that russia will come to the rescue. how legit are russia's interests in the island nation? a leading voice on political intrigue joins us after the opening bell. that's next. all stations come over to mission a for a final go.
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>> well he we're a little more than a minute away from the opening bell. joining the company from chicago, larry levin. you've got to hop into this. yesterday the market was all over the place following news out of cyprus and rejected the eu proposal and closed on the plus side. who a wall street rooting for. >> they're taking advantage of the bad news and getting in on the market. a tiny break or drop in the market, cyprus or something else, people step in and get in the market and don't think it's going to take it down and the more traders that deal that way. the more true it is. . charles: to a certain degree, a self-fulfilli self-fulfilling prophesy. keep buying on the dip. >> there's one other entity that makes it happen and our government is trying to make it happen. the wealth factor, winning to
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buy, a lot of bonds every month and those situations, make it a self-fulfilling prophesy and keep driving the market higher and higher. charles: and today the fed gets together and i guess the assumption the printing keeps going? >> no question about it. a market and economy dependent, i guess, but absolutely, they're going to keep printing until they feel they don't have to anymore which is probably a long time away from now. charles: buying the dips, thanks a lot, larry. that's by the way the opening bell, and the markets are ringing, the futures have been up all morning long and let's check the big board. dow up 29 points and ticking away. and the market is up and fedex we talk about that being something of a proxy for the economy. and they reported the numbers this morning and the profits were lower, and maybe people are buying or not shipping as much of the certainly we want to find out what's going on. let's go to nicole petallides on the floor the of the new york stock exchange. >> we're seeing fedex to the
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down side and the transportation index is higher and the dow is up 51 points. fedex comes out here with the numbers and they talk about weakness that hit their profits and they're actually trying to cut costs, but in cutting costs they actually incur cost toss cut costs so they're noting that as well. and year to date, fedex is a winner, up about 16%, you can see today down 4 1/4%. charles: i've got to tell you it's amazing that the fed is print to go this degree and the market is up. and a tech name coming out, oracle, they're after the bell, what are you hearing? >> we're seeing oracle with an up arrow and year to date, it is a winner and obviously they're going to be reporting numbers after the closing bell and it looks like a winner, so far so good. charles: i've got to tell you, larry ellison, one of the most interesting people in the world. adobe reported and a lot of people wrote them off of after steve jobs. >> that's a good one.
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when you beat the street, and one of the best when you talk about tech. adobe up 5.5% and obviously a leader and raised their full year numbers and when you do that, that helps things along as well. charles: i tell you what, all green arrows and great stories. thanks a lot, nicole. >> thanks. charles: russia to the rescue? that's right, cyprus' financial ministers in russia right now and you think he's pleading for a financial lifeline, but cyprus actually denies that. now though russia help-- we know if it comes, it's not for free, despite the low interest rate loan they've given. they want to tap the natural gas and established a navy base in the mediterranean and we've got donald jenson, an expert on russia and the russian mob and joins us now. >> i think one of the things that makes the whole deal palatable was that the money was being taken to the russian mob and that's okay.
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was that really the case? >> i think the mob broadly understood, yes. the germans in particular have long been concerned about rumors that a lot of illegal money, not only from the mob, but even from the russian olegarths has been going to cyprus and that's going back to russia and on the way to very low taxes in cyprus, and they were shocked by the eu plan and recovered quickly. it's taking advantage of the dip in the market to increase their stakes. >> when you say increase their stakes, what do you mean? are they going to actually step up to the plate with some sort of alternative bailout? >> they could, a, loosen the terms of the agreement for the loan and b, provide funding, the rumor, they're talking about the central bank and three as you mentioned in your intro piece, gazprom is looking at new energy supplies because they themselves
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have hit a wall in terms of their business plan with the development of things like shale gas and especially in the united states. so, gazprom has long coveted that possibly lucrative area of eastern mediterranean off the syria and coast. and a lot of energy resources, but i suspect they're talking over a deal. >> liz macdonald here, do you think that attrition, their banking is larger than the economy and on the verge of collapse, it doesn't have access to the ecb liquid.ity. >> do you think there's a crisis-- >> i think the deal will be had. it's not the first time one of the debtor countries in the eu has complained. from the moscow point of view they've tried to pull back exposure dating back to december and january because putin does not want some of this olegart
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money in-- he's to exempt cyprus from the central as he would say or shore campaign and to have cyprus move to netherlands and western europe where you get more protection for your money. so, russia has already been focusing on this at least in the last. charles: you know, don, putin came out really strong on this, you know. i don't know, i wouldn't say necessarily veiled threat, but he talked about how, quote, unquote, how dangerous this whole thing is. does this also speak to how closely intertwined the russian mob is with the russian government? many people say you can't separate the two. >> it's unclear always whether gazprom is an arm of the russian government or the reeerse is true or that the russian government is an arm of gazprom and this is one of the areas where you see the close intimate relationship between power and money in russia on full display
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and unfortunately, you also see the power. because it will look like the russians have come to the aid of the eu in cyprus and i don't think over the long-term that's what the eu really would like. charles: i've got to tell you, it's an amazing story and thanks for taking time out, a pleasure. >> thank you. charles: we'll go back to nicole because blackberry continues to rock and shares are up 6%, now what's going on. >>. nicole: a great move, right? it's at 15.88 and today, a positive comment one of the analyst today comes from morgan stanley, upgrading it to an overweight from an underweight, from an underweight. that's a good jump to $22, a new price target up from 10 and surpassed 10. maybe they're late to the game with a call, but think there's upside potential and we talked about the big million dollar-- million units order that we talked about last we are. so far so good. year to date up. charles: and they've been fighting to claw themselves back into prominence and the stock
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has been on fire. thanks a lot, nicole. speaking of someone on fire, or something on fire, dr. ben carson, president obama's new outspoken critic. he's going to join us in the next hour to talk about this. >> it's almost laughable some of the things i hear people say to criticize you, they say he's a neuro surgeon, he couldn't know anything about economics. it's not brain surgery. charles: now, does dr. carson have plans to run for public office? we're going to ask him alt 10:45. you cannot the miss that and remember of course, we want to hear from you, we love hearing from you, send us your e-mails right now at "varney & compan varney@foxbusiness.com, and we'll read them on the air. now i have the honors of doing the seven early movers. williams and sonoma, rich folks buying stuff again woo hoo!
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>> and there was a large oil find, a few companies including this, not certain how big it is, but move on the stock. frances francesca, they upped the price target and previous target was 38. and adobe, beat the street by 4 cents, a lot of upgrades and j and p says $40 stock and one said $43. a few making money with charles stocks. and this initiate add buy and the target 2% move there. and true engine, the ceo is out founder of the company looking for strategic alternatives, that means if someone offers us the right price, we'll sell. if you remember this one, this was on 7 early movers last friday with the number one stock then and it's up huge and i wtod people to buy mmre, and today is
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a grand slam. i love it. let's go back to the big board, despite the fedex miss, the dow jones industrials is powering ahead and let's check on the price of oil. oil has been quiet, but resilient. will not go down still, 93.08. check this out, a group of doctors say that the high caffeine energy drinks actually pose a serious risk to your health. so, what does monster energy do? they changed the label and now the feds can't regulate it anymore. brilliant on their part, but marc siegel is steamed. ♪ he did the mash, the monster mash ♪ ♪ it caught on in a flash, he did the mash ♪ the monster mash ♪ clients are always learning more
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>> zero calories, carbonated fruit-flavored waters from coca-cola. the drink is going to be called fruit water. the flavor won't come from fruit. artificial flavors and sweeteners. are you buying it? >> it's splenda and seltzer water. women would like it, you go to the gym and drink the vitamin water. 125 calories for what you supposedly just worked off so i might be buying this one. >> might be. even though there's no real fruit. just the slice of lime there. >> right. charles: by the way, speaking of caffeinated drinks, monster the biggest seller, they're changing classification to from a dietary supplement to a beverage. they doesn't have to mention on
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the ads about possible deaths linked to injuries from their drinks. dr. marc siegel joins us right now with more, dr. siegel, you're upset about this? >> considering that 20,000 hospitalizations a year are related to energy drinks, i am upset about this and i think they're doing it because they don't want to be regulated as much in the production process. rock star has already done that. and i think the big issue here is caffeine, and the reason caffeine is an issue, charles, when we drink a cup of coffee, even starbucks 16 ounce which has 330 milligrams of caffeine which is almost a full daily requirement-- daily recommendation from the fda, almost that much. 400. and you know what you're getting. you know you're drinking caffeine. the problem with the energy drinks, they're marketing it to teens. nobody knows they're getting caffeine in there. charles: really? i hear the marketing and they talk about caffeine, takely now more recently. here is the point is it more caffeine than a cup of coffee. >> a cup of coffee usually 100 milligrams.
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it has half of what the starbucks has that i just said, half of that, but it's got a little more than a regular cup of coffee. >> and why aren't you upset at starbucks, why are you upset at monster guys? >> we didn't say we're not upset at starbucks, we're talking about the energy drinks, and we've been inculcated that coffee has caffeine in it. i don't know if the teens are aware. they want a boost, but it's a younger audience, younger clientele. i don't think he they do as well as with caffeine and i don't want my teenagers having caffeine. >> and college kids tend to mix those beverages more with alcohol than coffee. >> another thing, you can tolerate more alcohol and get behind the wheel and drive. >> and what are the government regulations now, if they're now a beverage versus what they were prior? >> well, there really isn't any additional. >> voluntary reporting? >> exactly. and they're saying that they're
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going to do that. saying that they're going to continue to report adverse outcomes. but i'm not so much concerned about that, you know, because again, if a few people die from this, they're going to end up saying, well, it wasn't the beverage anyway, it wasn't the caffeine. how do you prove that was the cause? and i never believe, liz, that fear is the best way of bringing attention to something anyway, so that's not what i want. but i somehow like the idea and again, on this program, we're not always about overregulation of government agencies, but i like the idea that the fda is saying, or that doctors are writing to the fda saying why don't we restrict the amount of caffeine that's in this? i like that idea. >> but we do come up to the thing again, you know, do you restrict the amount of calories in a burger? when does it fall on the user? i mean, at what point does the user bear any responsibility? if the guys put clearly on the label, listen, we've got caffeine and this in it? at what point does the liability for abusing the product shift
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from the manufacturer to the person abusing. >> fair question. if stuart was here he'd be harder on me than this, and i'm not coming from the food police. >> nanny state. >> i'm worried about the 20,000 number and kids are drinking this and going to hospitals and it's problematic and they may be doing it when it's-- >> we're getting a wrap signal, although someone would argue maybe 20,000 people die every year from regular things like regular colas and things like that, but you know, we've got to-- >> and teens are drinking coffee. >> fair enough liz: they've got to notify if the product causes injury and the company still has to do that. >> not if they're a beverage. they're recommended to do that. they recommend. charles: i see your point. if i drink an energy drink and fall out of a window, was it the energy drink. >> that's what they're saying. charles: guys, thanks a lot. obviously, you've got to come back on that. time for your morning gold
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report. gold is up and holding up pretty good, broke that mystical 1600 number and looking for a new boost, cyprus. and 1607. and what particular group of americans drink more booze? who says we don't have a spending problem? that's next. ♪ why do you drink ♪ ♪ hey, why nights
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>> well, we just got a new ipo. it's model n and it's up big. take a look at that, 35%. well, the u.s. national debt continues to barrel towards 17 trillion dollars, going to hit that certainly by september. and now, another example of questionable spending from the federal government. the national institute of health is getting 2.7 million dollars to study why lesbians are at higher risk for hazardous drinking. now this is on top of another study why lesbians are overweight and that's 1.5 million for that one. liz, excessive spending? >> news flash, i'm always curious about the spending on the studies. when does the time clock run out
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on what we know. we know that excessive drinking is the third preventible cause of death in the country. 220 billion bucks spent because of excessive drinkings, we've known for decades. when does the time clock run out on the research and now what, we have the facts and we have the information, stop it. instead spend the money on that. i think it's, you know, covert pork barrel spending, on facts that we already know. charles: to your point i think if they want the answer they could have taken the other study. hazardous spending by blacks, hazardous spending by indians-- >> or drinking. >> and i guess a lesbian is the flavor of the moment. it's just another excuse to spending money and we don't have a spending problem in this country. >> we have a spending-- and we've clearly had a drinking problem since prohibition was lifted. a an occasional drink, but there you go.
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>> even harrison fordson the maximum pain thing and warning that sequester cuts, no act, the actor and pilot says, it will happen, hundreds of air traffic control towers are going to close and he's worried about it. here is a hint. he was frantic about it, next. ♪ friday night, buddy.
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charles: we keep saying that the president wants to inflict massive pain with the sequester cuts. welcome to a new hour of learning and company. stuart will be back tomorrow. i want you to take a listen to this. funding for marines was cut last year, yet we just spent $30 million to pakistan. does that title even fit in someone's resume line? do not forget about harry reid. he made a indirect link between cuts and death.
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harrison ford is an actor and also a pilot. ♪ charles: i bet some of you guys really thought i was joking about harrison ford. the man who played the president in air force one, he is a real pilot in real life. take a listen to this. [inaudible question] >> accidents will happen.
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charles: id tells more of these cuts at the top of the show. it is really all about maximum pain right now. liz: the faa is getting even more money after the sequester cuts. they say the cup for the faa is a cup for spending. charles: we still spend more money. liz: 15.9 billion. charles: thanks a lot. the market opened strong. a lot of stocks have come back from the dead. best buy happens to be one of them. nicole: we are getting some really positive comments on best why. they reinstated best buy as a
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buy. it is an outperform. target is $30. it is up 2%. they are just talking about the fact that they think it has more upside potential than any other name in this group. turnaround, e-commerce growth experience. charles: five months ago, walmart loves apple and they hated this by. let's get back to cyprus. what happened there could actually happen here. the fdic guarantee your money. let's bring in james for the american bankers association. what could stop congress from passing a tax? >> the u.s. learned its lesson
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80 years ago in the middle of the depression when there were runs on banks back then. that is when they created the fdic. it is a constant reminder that it is a huge problem to have losses for small depositors and it will not happen in this country. the fdic is strong. the full faith and credit of the united states stands behind that. charles: if we had a real crisis to the magnitude of what cyprus is seeing and there is just not enough money in the agency to back this, it is just hard to argue that there would not be desperate measures. is it not possible for the federal government tuesday this is an emergency and reach into
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people's savings account. >> let's back up, charles, and look at what happened in the last crisis. 465 date failures. very little people notice that. even if you are in a bank that failed. money. that fund is back up at $25 billion. the industry paying 12.5 billion. the fdic has a line of credit. if there is a worse problem we would do one of the biggest problems without a problem because the app dic is backed by the industry that is paid by support by their customers. charles: i think it was a joke. we are still on.
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assuming the market drops 50%. i think there would be massive panic and blood in the streets. >> charles, the test that we are trying to get an extreme circuit path. charles: i am with you on that. the outcome was pretty hunky-dory. >> people have not focused on that. 25% above what it was five years ago. the industry earnings are up from last year. losses are way down. bank failures are now a rare event. the industry is fundamentally stronger now. the stress test are examples that they can't even under the most extreme circumstances, the
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baking industry is prepared to meet those kind of losses. i think it was quite informative. charles: all of this point is that the call. a $1.3 trillion loan program from the fed, tarp, a lot of other things, some extreme measures were taken. i do tell you this, i respect you and i like you a lot. whenever you come on, you tell me things will get better. i am feeling a little bit better. thanks a lot. i appreciate it. a dad post this picture of his son holding a rifle on facebook. you would not believe what happened next. how much privacy can you expect on facebook and can authorities
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use your facebook page against you? judge andrew napolitano is here at 10:35 a.m. california governor says his state considers using fracking to reduce reliance on imported oil. you have to listen to this. >> the fossil fuel deposits in california are incredible. the potential is extraordinary based on a deliberate process that listened to people, but also wants to take advantage and create opportunities that we have in the state. charles: joining us now is mark mills. your position is looking pretty good right now. >> it is looking good. i am feeling better. the word fracking that we keep
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using, hydraulic fracking is 48-year-old technology. what is new is what i would call smart drilling. governor brown noses. it is a way to get a lot of money. charles: it is about money. governor cuomo has kicked the can down the road. this is absolutely nuts. liz: we are talking about the monetary shelf formation. it is two thirds of the countries, you know, natural gas and oil deposits. are those numbers right? >> it is the central valley of california.
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liz: it is 15 billion barrels of oil. >> 15 billion barrels is a number we can do with today's technology at a price that people will pay. this is a way to export a product, make money and create jobs that are six figure jobs. charles: we are still talking about governor brown. people are fleeing the state. occasionally, he may say the right things. why are you so convinced that he will actually follow up on this action? >> i do not know the governor. i have not met him.
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it can go in both directions. i think he wants a legacy from having saved the state of california. i think he knows that technology makes it safer and possible today. i think he does it for the money and because you can legitimately pay for this, if you like. this is an industry that has profoundly changed. charles: absolutely. no dow about it. it is really lunacy not to take advantage of it. we are talking about a governor who is to the left of president obama on this. you point out all the logical reasons of doing it. does governor brown care more about his legacy or the guy who created a few six figure jobs?
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>> i think the obama administration may get left with the governor on this issue. the governor fired a couple of the regulators. he wanted more, not fewer. it is legal to go ahead and extract oil and gas already in california. the industry is hesitant to go in there. charles: would there have to be some other emergency? what would be the catalyst to get the governor to act? >> i think that california is where a tax revolt started right before reagan was elected. liz: which towns are in that area in california? >> east of five it is republican
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land. this is conservative territory. it is where farmers are. it is where oil already is. it is the fourth largest oil-producing state of the union. let's do some more with 21st century technology. charles: we have a huge audience that watches us from california. thanks a lot. we appreciate it. the dow hitting another all-time high just a few moments ago. nicole: we are seeing the dow out 14,529. these are names that are at 52 week highs. every dow component actually has an up arrow, with the exception of caterpillar. we have a weaker dollar today. the traders have said, this market still wanted to go higher despite what we had seen in cyprus and the worries.
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we are back in the green. general mills, all-time high for the cheerios maker. hamburger helper and the like. charles: sony people tell me i am afraid of the market. they start their day everyday eating cheerios. a lot of news on adobe. nicole: we saw adobe is on the move. they came out with their numbers. the profit on the rise. their stock is up. .5%. charles: thanks a lot. we will talk to you later. i am talking about student loans. under president obama, they have
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skyrocketed. here is what you miss when you did not joined varney and company at 9:20 a.m. >> he wants it closer to moscow where you can control it. he has been under pressure by big business lobbies and moscow. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above.
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charles: people are not spending. they are not shipping. fedex third-quarter profits fell. the company blames it on people choosing cheaper and slower shipping. fedex down right now five dollars. yahoo! is in talks of buying stake in dailymotion. reportedly worth $300 million. france telecom, the deal is not finalized. yahoo! shares are slightly higher. amazon is putting their hat in the ring in the online music situation. it is working with music companies on its subscription services. shares of amazon are moving this morning. coming up, new numbers on student loans. this could be a gigantic ticking time bomb. ♪
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today is gonna be an important day for us. you ready? we wanna be our brother's keeper.
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what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. charles: federal student loan debt before president obama took office was shot of $120 billion. wait until you hear what it is now. give the number to us. >> it is $588 billion as of february. federal direct student loan have gone up five fold. according to the congressional research service, it will put
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out another $120.8 billion in direct student loan coming right out of the u.s. treasury. money that we borrow from china is on the backs of the american taxpayers. charles: this is one of the romney's piece about the president. do you think there is a sense that it won't have to be paid back? >> this is so much different than a home mortgage. you have to save a down payment, you have to have a job that you have to have the income that can be rationally used to pay back the mortgage. a student loan is much different. this will be paid back on the expectation of future earnings of the student.
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if you look at the ways this is structured right now, clearly the government does not anticipate that some of these borrowers are going to pay this money back. if you do not pay it back over 25 years -- the interest rates and whether these loans are forgiven or paid back at all is ultimately up to congress. we can win the allegiance of all these voters by forgiving their loans. i think it is a very serious possible scenario. charles: overall, student loans have taken over everything at this point. >> you are talking about
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$588 billion given out to the younger generation. marco rubio pointed out he had personally just finished paying off $100,000 in student loans. i think rubio is right. these are folks that are going into the job market. quite frankly, i think the standards are being dumbed down within expectation that everybody should go to college. charles, i was looking at the department of education national assessment program test. they say that only 38% of the 12th graders in the united states are grade level proficient in reading. we had a country where kids are not getting through grammar school and high school reading
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correctly. i think we need to focus on this country and repairing our basic educational system. when the government is putting out almost $600 billion in money that people can turn around and give to colleges, that increases the price of college. charles: startling numbers and the in game could be even more startling. thank you very much. it is time for me to try to make you some money. this dog is actually down a little bit. i like that. one of the rivals was acquired by them. 744 learning centers.
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fifty-seven schools. revenues were up last year. guidance has been fairly strong. this one, i think is real solid. the nation with the most english speakers in the world will be china. i am looking for $20 or more on this stock. right now, i have to job descriptions for you. governor of the state. second one, superintended of a school district. the answers will blow you away. ♪ [ male announcer ] you are a business pro. governor of getting it done. you know how to dance...
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charles: time now for a check on the market. of 74 points. walgreens, that was a big winner yesterday. nicole: we are looking at walgreens today after they made a deal recently. we are seeing the stock getting
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up. they had a neutral rating which certainly does not make me feel like they love it. the target is right around where it is. goldman sachs put it as a buy. a lot of this comes from the heels of a bot of high hopes from the deal. charles: thank you, nicole. do you know how much your school superintendent makes? mini school superintendence are not only among the highest-paid government workers in the country, they are actually making more money than their own governors. chris christie says that is ridiculous? >> why am i standing up on the superintended pay issue. when may know the cap is coming. listen, i know being the school superintendent is a tough job, but after doing this for 11
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months, there is no tougher than this, that is for sure. ask them why it is possible when hundreds of millions of dollars are given to the trenton school district every year that they do not have money for paper. elizabeth macdonald did the investigation. she found the numbers and they are absolutely staggering. liz: we found 12 states where they are getting paid more than the state governors. we found, of course, on long island, the worst. governor andrew cuomo has said, you know what, i applied for that job. they are getting half a million dollars. they are increasingly being
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called ceos. they are using ceo pay models to pay for them where they get perks like free cars and free cell phones and tuition for their children. when they try to -- they retire early, get their pension and they get rehired at school administrators elsewhere. we found one guy who has had 23 jobs since he retired as a school superintendence. charles: 23 jobs? you say often they make ten times what a teacher makes. what exactly goes into their job? what are they doing? >> their argument is they
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oversee a multibillion-dollar budget. i have to tell you, they do have a lot of help in the way of school administrators. that district, remember, we reported this on varney and company. are they helping the kids? we looked into it. we got a big report on our fox business website. charles: everyone has to go to the fox business website and check it out. speaking of something else, a dad posted a picture of his kid holding a rifle on facebook. you will not believe what happened next. all rise, the judge is next.
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>> they wanted to go through the house and make sure that guns were not available to the kids. i wanted to run the serial numbers to all of my firearms. >> what did you think about that >> i think it is totally illegal. in new jersey, you do not have to register your firearms. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so cle to the options floor...
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charles: this story is making headlines today. a dad in new jersey posted this picture of his kid holding a rifle on facebook. the family of the boy says that child services came to their home. we brought in judge andrew napolitano. i know you know the story. >> the division of youth and family services. charles: they came to the home and they made him out of the man's. outrageous or not? >> outrageous and unconstitutional. the statute says that you have to be 18 in order to own, use or possess a gun except for in the following circumstances. in the presence of your parents
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when either of your parents is licensed to own a gun which is obviously what happened here. there was no basis. was there a parent there when the child held the gun. the owner of the gun was on this morning. he is not only licensed to own it, he is a certified instructor he probably knows. charles: in new jersey, the human being is a licensed, not the weapon. >> this is over reaching by a bunch of progressive nanny stators in the division of youth and family services that would
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love nothing more than to be able to instill their own values and that child rather than the parents. charles: charles: they feel like an agency that has become so powerful that even your kids can use it against you. >> they could not get a warrant. they sort of talked their way in. at some point, he realized, i am going on the bases with the interview, at some point he realized that they did not have a warrant and they did not have the basis to go any further. he could have said stop at the front door and they would have been gone. i do not think the judge would have given a warrant. charles: charles: is this a when? >> our dear friend would go wild
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over this. these are plaintiff lawyers trying to expand the jurisdiction of the protection agency. this is not congress, this is not the state, this is lawyers saying that epa should have forced you to do this. the supreme court said absolutely not. the congress wanted the epa to have this authority, they would have given it to them. charles: lately that is the case. the clean water act has really been the green light to do anything to give the power to do anything they want. liz: it also runs up against the land use here in the united states where people privatize their land, but then the government comes in and says we want that land for our own use.
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>> the epa has been losing in front of the supreme court. the complaint and was not the government itself. charles: the big case with the spotted owl, the one where a lot of people lost their jobs. a spotted owl is almost instinct anyway. it is amazing. >> candidly, they fill them with ideologues with a political agenda. as disappointed as i am, i am
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not surprised. charles: judge andrew napolitano, thank you. a man not afraid to speak his mind when it comes to politics. we will ask the dr. after this. >> it is almost laughable some of the things that i hear people say. they say he is a neurosurgeon so he could not know anything about economics. [ laughter ] >> it is not brain surgery. [ applause ] ♪ ♪ [ male announcer ] it was designed to escape the ordinary. it feels like it can escape gravity. ♪
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♪ charles: adobe chief technology officer is headed over to apple. there is some good news for adobe. it beat wall street's estimates for the first quarter. it is up $1.49. blackberry shares are up also. morgan stanley upgrading from underweight to overweight. shares of blackberry of almost 5% this morning. microsoft is on the hunt for apps. it will pay for them. one hundred dollars per app that it did to the window store by june 30. doctor ben carson, if he's setting his sights on the 2016
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charles: the country reportedly had a deal in place with russia, but the eu shut it down. the dow hitting an intraday high today.
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nicole: a lot of anticipation waiting for news from the fed. there is some optimism in the market. we know the money printing has helped to lay. charles: doctor carson, obviously, our favorite brain surgeon. we have him on the phone. he joins us from john hopkins hospital. you also say let's say a magician is somehow putting you into the white house. your comments lead everyone to believe that maybe you are moving even closer to a run for the white house in 2016. >> my goals are still the same
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and that is to encourage open dialogue and honest discussion without people getting into corners and firing at each other and calling people names like two -year-olds. what i would like some of the politicians to recognize is the reason that, you know, i have gotten a lot of traction is because people want to hear common sense and honesty. that seems to be something that is so lacking. a little bit of courage and common sense. charles: when you talk about honesty, maybe people have different versions of what honest is. it means you have the him that someone deliberately is trying to hurt this country. to take away is that president obama is deliberately trying to hurt this country.
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>> i said, if i were trying to ruin this country, this is what i would do. those are the kinds of things that have ruined many countries before us. we are not the first pinnacle nation to be in the client. we have the opportunity to turn it around. how do we do that? we stop trying to divide the country. you know, we sure of our military and we keep our promises to them. we deal with that like intelligent people do. you do not spend more money to get out of debt. we stop the attacks on morality and the principles that made us into a great nation. charles: can we break any news here about 2016? >> we will have to wait for guy
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on that one. charles: we really appreciate your comments. thanks a lot. now it is time to try to make you some more money. i have a more conservative by for you. cisco. the food service company. no one ever talks about it. by the way, this whole food service business, it is about $230 billion business. they are going to get a lot more. everywhere you go, there are food services and these guys are on top of it. the stock is up almost every year. they take market share all the time. for anyone looking for a conservative investment, i think this is a fantastic idea. this one is for your 401(k). here is another example of reckless government spending. hundreds of thousands of your
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taxpayer dollars is being spent -- we cannot make this stuff up. ♪
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♪ charles: how is this for government waste, the national
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science foundation awarded money to yale to study ducks. liz: everyone knows that a duck pond in breeding season is like a singles bar on spring break. who knew they were so quirky with their sexual evolution. they want us to go to quÉbec to study duck population. charles: we probably should have had this last week in the vice segment. how does this help mankind? liz: i am not sure how it helps mankind. that is a great question. charles: dogs having sex is what we are talking about. they have been doing this for a long time. they do not need our help. liz: longer than us.
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[ laughter ] lori: governor cuomo is extending for another three years. all of these things they say are temporary. they are never temporary. it is sort of like they tried and then they run away. talk about being on a hamster wheel. governors and legislators try to consistently overtax the taxpayer. charles: so many people keep leaving. i do not know when they will figure this out. andrew cuomo cannot figure out whether or not to do fracking. in the meantime, try to make up revenue by taxing business owners. this is so backwards. he is not a dummy.
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liz: listening, we have bureaucracies in california and new york. charles: all right. the highlight reel is next. ♪ ...amelia... neil and buzz: for teaching us that you can't create the future... by cnging the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent.
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